The Aptitudes, Knowledge, Skills, and a Variety of Behavioral Characteristics

question 255

Multiple Choice

The aptitudes, knowledge, skills, and a variety of behavioral characteristics considered necessary to perform a job successfully are contained in astatement of job

• A) credentials.
• B) training.
• C) education.
• D) experience.
• E) qualifications.

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Definitions:

Income Effect

A change in the consumption patterns of individuals arising from a change in their real income, due to shifts in prices or income levels.

Unskilled Workers

Workers who have no specific training or specialized skills and usually perform simple tasks that require limited education.

Minimum Wage

The minimum wage permitted by law that employers can pay their employees, whether it's calculated by the hour, day, or month.

Backward-Bending Labor Supply Curve

As the wage rate rises, more and more people are willing to work longer and longer hours up to a point. They will then substitute more leisure time for higher earnings.